Did you know Commonwealth Bank owns most of Aussie Home Loans? Also, most online home loan sites are part-owned by the major banks?
The importance of independent advice
When you’re looking to refinance, make sure your Broker can offer you the choice of many different lenders. Most independent Brokers will have around 20 different lenders, and they will recommend the best three lenders for you to choose from.
But there’s something else you need to know.
Some Brokers are paid higher commission from some lenders – especially when they have loan products in their own name.
So there’s a way you can make sure you are still getting independent advice.
All Brokers are required to disclose their commission to you. So ask your Broker how much commission they are paid – they have to tell you. Also, ask how much the other lenders they don’t recommend pay them.
The importance of experience
Most new Brokers leave the industry within the first two years.
And with hundreds of different loan products on the market, it’s hard to make the right decision. And if you make the wrong decision, it could cost you thousands over the life of your home loan or investment loan.
So it’s important your Broker has long term experience in the industry.
When your Broker has long term experience they will give you all the information you need in simple language that is easy to understand.
This information needs to be personalised to your specific needs and shows you how to save thousands of dollars in interest, fees and charges over the life of your loan.
How we can help you
At Craig Tracey Lending we take time to listen and understand you then we compare all the loan products in the market for you. And then we use our experience to go a few steps further to help you make the right decision.
We give you all the information you need in simple language that is easy to understand – we call it your “Borrowing Plan”.
Your borrowing plan is personalised to your specific needs and shows you how to save thousands of dollars in interest, fees and charges over the life of your loan.
Click below to contact us now….